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I can walk to school in ten minutes.
Literal
School [to-まで] 10 minutes [in-で] walk-[and-て] can-go.
歩いて行ける combines 歩く (walk) + 行ける (can go, potential of 行く), with 行ける acting as the main verb and 歩いて as a manner adverbial — 'can go by walking.' Note two uses of で: まで marks the endpoint ('to school'), and 10分で marks the duration within which ('in 10 minutes'). This [verb-te + 行ける] pattern is highly productive for 'can do X there.'